Loopring Bi-Weekly Update — 09/29/2019

We have been testing the Lightcone relayer cluster, and identifying and fixing bugs. Lightcone’s integration testing and stress testing will remain our top priority in the coming months.

Research & Development

Protocol

We have drafted the design for a Generic Extension for Request Validation (GERV) which will power features such as Conditional-Transfer which enables users to withdraw their balance as quickly as one Ethereum block time. GERV will enable developers to add functionalities and features to the Loopring protocol without modifying the protocol’s code-base. We need two more weeks to implement and test this feature.

We have also integrated Loopring 3.0 with Uniswap. Now Ether and tokens other than LRC in protocol fees can be swapped to LRC through Uniswap. The Loopring team has added 1000 Ether (and the corresponding LRC amount) to the LRC/ETH market on Uniswap to stabilize the LRC price.

We have finished some major components of the DEX browser, a tool for people to browse DEX activities based on-chain data-availability. Its persistence mode remains to be implemented/tested though.

Lightcone Relayer

Note: The current Lightcone relayer only supports Loopring 3.0-beta2.

We have deployed Loopring 3.0 on the Rinkeby testnet and a Lightcone relayer cluster to interact with it. We have fixed some bugs but there are still quite a few outstanding issues to be resolved. Our priority for the coming months remains to be the integration and stress testing of the relayer. An open challenge is to implement a better rollback strategy to handle unexpected errors. Our engineers have also started to support better log aggregation, service monitoring, and data visualization for the backend.

The construction of SNARK proofs in the cloud is more cost-efficient after all ZKP proving key files are hosted in the AWS Elastic File System which avoids the copying of large files.

Our engineers have also completed integrating Lightcone API into vnpy and HummingBot. Functionalities including order management and information querying are all ready; a few basic trading strategies are also available.

DEX Frontend

We have added a feature to export users’ trading key-pairs as encrypted files. The files can be given to a trader who then can trade on behalf of the account owners. We have also started to add support for beta3 which uses a different hashing function and signing algorithm.

Operations & Marketing

  • 09/16/2019 — Loopring team attended Shanghai Blockchain Week, talking about Loopring Protocol 3.0 and ZKPs.

  • 09/20/2019 — LRC was made available for trading on the fully licensed and compliant virtual currency exchange Biteeu powered by Bittrex, supporting LRC/BTC trading pair.

  • 09/23/2019 — Dolomite, a leading DEX built on top of the Loopring Protocol has launched! For the first time, non-custodial orderbook trading on Ethereum will feel superior to centralized exchanges. From fiat connectivity, 10 bps maker (limit order) rebates, and a generous referral program, be sure to check it out.

Upcoming Events

  • 10/07/2019 — Loopring will host a meetup event with Gnosis, Kyber, and Uniswap, to talk about decentralized exchanges during Ethereum DevCon 5 in Ōsaka.

  • 10/08 to 10/11/2019 — Our CTO, Steve Guo, and CMO, Jay Zhou, will share more information regarding Loopring 3.0 during Ethereum DevCon. Feel free to email them for meetups.


Due to Ethereum DevCon and the holidays of National Day of the People’s Republic of China, the next bi-weekly will be postponed by one week to Oct. 20th.


Loopring is a protocol for building high-performance, non-custodial, orderbook-based exchanges on Ethereum. You can sign up for our bi-weekly update, or learn more at:

⭑ Twitter: twitter.com/loopringorg
⭑ Reddit: reddit.com/r/loopringorg
⭑ Telegram: t.me/loopring_en
⭑ Discord: discord.gg/KkYccYp
⭑ GitHub: https://github.com/Loopring
⭑ Kakao: open.kakao.com/o/gJbSZdF (Korean)